BrightSpring Health Services, Inc. (NASDAQ:BTSGU) Short Interest Up 1,139.8% in June

BrightSpring Health Services, Inc. (NASDAQ:BTSGU) was the target of a significant growth in short interest during the month of June. As of June 15th, there was short interest totaling 35,928 shares, a growth of 1,139.8% from the May 31st total of 2,898 shares. Based on an average daily volume of 41,788 shares, the days-to-cover ratio is currently 0.9 days.

BrightSpring Health Services Stock Up 3.2%

Shares of BTSGU traded up $7.15 during midday trading on Thursday, reaching $230.13. 5,094 shares of the stock were exchanged, compared to its average volume of 28,166. The stock’s 50 day simple moving average is $188.80 and its 200 day simple moving average is $153.42. BrightSpring Health Services has a twelve month low of $68.14 and a twelve month high of $255.51.

BrightSpring Health Services Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, August 1st. Investors of record on Wednesday, July 15th will be paid a $0.8437 dividend. This represents a $3.37 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date of this dividend is Wednesday, July 15th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Virtus Advisers LLC bought a new position in BrightSpring Health Services in the fourth quarter valued at about $25,000. GABELLI & Co INVESTMENT ADVISERS INC. acquired a new position in shares of BrightSpring Health Services during the first quarter worth $213,000. Jane Street Group LLC raised its position in BrightSpring Health Services by 88.4% during the 4th quarter. Jane Street Group LLC now owns 4,946 shares of the company’s stock worth $624,000 after purchasing an additional 2,321 shares during the last quarter. Morningstar Investment Management LLC bought a new stake in shares of BrightSpring Health Services in the 3rd quarter valued at about $829,000. Finally, JPMorgan Chase & Co. increased its stake in shares of BrightSpring Health Services by 69.4% in the second quarter. JPMorgan Chase & Co. now owns 43,931 shares of the company’s stock valued at $3,627,000 after buying an additional 17,994 shares during the period.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “hold (c)” rating on shares of BrightSpring Health Services in a research note on Friday, March 27th. One research analyst has rated the stock with a Hold rating, According to MarketBeat.com, BrightSpring Health Services has an average rating of “Hold”.

About BrightSpring Health Services

BrightSpring Health Services is a leading provider of home and community-based health and support services in the United States. The company specializes in delivering a continuum of care that spans behavioral health, intellectual and developmental disability support, home health care, and respite services. By integrating clinical and non-clinical offerings, BrightSpring seeks to improve patient outcomes, enhance quality of life, and support family caregivers.

Through its behavioral health division, BrightSpring offers individualized therapy, counseling, and crisis intervention for children, adolescents, and adults experiencing mental health challenges.